Monday, January 28, 2008

Attraction Points, coming up

Do not hurry here, we could have Friday Ugly game played upon us again. Where the high of the morning was it... But there is a difference, at this point JPY is not really oversold, so it would be hard to expect kind of a rally it staged on Friday
N QQQQ 43.20,43.36 - 43.98,44.11,44.35
N SPX 1319,1316 - 1333,1336, 1340

10:12 ET, NAZ showing better than SPX strength, is encouraging for bulls
10:13 ET, YEN support on second so far, trend UP in prices, maybe nearing an end with the exhaustion close
10:23 ET, did not get to any of our Apoints as the wide range created the big distance to cover down there. Just as well. We may not catch the bus, but market could at least catch a breath

Dear John, you mean we hit the High Apoint, Yes, I was looking for low Apoint. Thanks a lot. Soooooo it is hitting the highs OK, I can live with that.
10:32 ET, So, is the market playing half of Friday with us where the beginning is the same but the end different. If YEN keep moving lower that would be the scenario, but not sure yet. Unless YEN makes new lows of the day soon, the Friday will return, How Awful.
10:37 ET, Pattern looks decidedly different from last Friday. Considering cyclical low was expected around 20 Jan, we definitely must not go to new lows in the stocks market if some cyclical rally is still viable prognostication. After that rally supported by FED ( among other things) we expect YBR road to be followed DOWN into FEB/MARCH
10:47 ET, if momentum lost, right here, then more selling in the stocks will follow, so it is a critical possible buy with tight stop point. NAZ leads from the morning... very important fact on the bulls side.
10:52 ET, Dollar is getting beat up today and that is part of the meandering process(against European currencies) I eluded to for few weeks now, which should be followed by $US strength into mid-Year.
11:58 ET, we are at a dangerous juncture here, If YEN was to break up in here, Market will follow with its own down move
12:08 ET, YEN breaking up, not good for advances in the stock market today. Unless the move is big and strong, this might just be the lunch time doldrums in the markets to be remedied later on today
12:38 ET, Ok, you guessed it, I think we may have some volatility, but not much movement till Dr. Bernanke delivers the Message About interest rates. So, relax... just watch that larger limits are not violated.
14:21 ET, Turnaround time around 13:35 +-5 minutes
14:22 ET, OK the 13:35 High lasted only 25 minutes, but we are still not much higher than that point.
15:12 ET, After that fake strength around 13:35 where market made believers that it is going to hold up there , it turned and moving lower. So, the third high AttractionPoint would have been a good sell. But I am not in the mood to play before FED.
15:44 ET, Actually I had 15.35 another turn point, but I fell asleep, so telling you late. Sorry!

11 comments:

john said...

Boris,

thanx

old john

boris said...

Dear John,
Good Trading

john said...

It hit 1333 exactly and then backed off.

john said...

Going to hit 1337 momentarily?

old john

john said...

Boris,

that is what I meant ( high)

old john

john said...

Boris,

like a stalled airplane

Old john

boris said...

Dear John,
It is waiting for airforce refueling Boing aircraft...
It seems though as if it is a quiet before storm, up or down. My preference and prognostication is up, but YEN must support me here or I will change my mind quickly.

Good Trading

Anonymous said...

Did buy some SRS when the Reits shot up ---wont sell it this time--(famous last words right?)

boris said...

Dear Lag,
ENjoy, but be careful. Tomorrow FED day anything can happen do not be overly exposed. The rest you will know what to do...

Good Trading

john said...

Boris,

In cash, thought about shorting but took a pass. I will wait for next bus.

old john

boris said...

Dear John,
Money not lost is money made...

THere is absolutely no point trading for the purpose of trading.

Good Trading